ABSTRACT
As longtime consultants to family-owned businesses, we always keep in mind a useful maxim:
Good relationships are the foundation for the survival and ultimate success of all business enterprises undertaken by families. When a family maintains mutual respect and repairs the inevitable rifts among its members, it will flourish-and the family business itself will prosper. When family members are unwilling or unable to reconcile and reestablish trust, their enterprise is highly vulnerable and may even fail-unless or until changes are made to ameliorate relationship ruptures.
